Gary Siegel

NEW YORK - The University of Michigan's final March consumer sentiment index reading was 73.6, compared to the preliminary March 72.5 reading, the final February 73.6, the preliminary February 73.7 reading, and the final January 74.4, according to market sources.

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “continued to grow solidly, with production almost back to year-ago levels,” according to the bank’s monthly manufacturing survey, released yesterday.

Although the economy is showing early signs of recovery, two significant “headwinds” — the effects of unemployment and caution — will restrain growth, Federal Reserve Bank of Cleveland president Sandra Pianalto said yesterday.

Accommodative monetary policies are still necessary to support the economy, but the Federal Reserve Board is prepared to withdraw stimulus when needed, Fed chairman Ben S. Bernanke testified before the House Financial Services Committee yesterday.

NEW YORK - The Treasury Department auctioned $32 billion of seven-year notes, with a 3.25% coupon, a 3.374% high yield, a price of 99.232610.

NEW YORK - The Treasury Department said today it will auction $28 billion 91-day bills and $29 billion 182-day discount bills Monday.

NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “continued to grow solidly, with production almost back to year-ago levels,” according to the bank’s monthly manufacturing survey, released today.

NEW YORK – Accommodative monetary policies are still needed to support the economy, but the Fed is prepared to withdraw stimulus, when needed, Federal Reserve Board Chairman Ben S. Bernanke testified before the House Financial Services Committee today.

The Treasury Department yesterday auctioned $42 billion of five-year notes, with a 2 1/2% coupon, a 2.605% high yield, a price of 99.510730.

Efforts to prevent another fiscal crisis seem to be more “rhetoric” than “substance and necessary reform,” Federal Reserve Bank of Kansas City president Thomas Hoenig said yesterday.

NEW YORK - The Treasury Department auctioned $42 billion of five-year notes, with a 2 1/2% coupon, a 2.605% high yield, a price of 99.510730.

NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated March 25, due May 20, at a 0.130% high tender rate.

NEW YORK – Efforts to prevent another fiscal crisis seem to be more “rhetoric” than “substance and necessary reform,” Federal Reserve Bank of Kansas City President Thomas M. Hoenig said today.

“Manufacturing activity in the central Atlantic region advanced somewhat faster in March than a month earlier,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond.

Monetary policy should be set by a series of well-crafted rules, Federal Reserve Bank of Philadelphia president and chief executive officer Charles I. Plosser said yesterday.

NEW YORK - The Treasury Department today auctioned $44 billion of two-year notes with a 1% coupon at a 1.000% yield, a price of 100.000000.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.105% high yield, a price of 99.991833.

NEW YORK – “Manufacturing activity in the central Atlantic region advanced somewhat faster in March than a month earlier,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “Looking at the main components of activity, shipments grew at a modest pace, while new orders were virtually unchanged and employment steadied. Other indicators were mixed. Backlogs of orders landed in negative territory and capacity utilization turned positive after being negative for the last three months. Vendor delivery times grew at a considerably quicker rate, while manufacturers reported somewhat slower growth in finished goods inventories.”

NEW YORK – “Service sector activity strengthened in March,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “Retail sales expanded and inventories decreased. In addition, the drop in big-ticket sales abated this month. Shopper traffic continued to slump, however. At non-retail services firms, revenues fell, but the decline was less pervasive than in recent months. Price change in the broad service sector was nearly the same as a month ago.”

NEW YORK – Monetary policy should be set by a series of well-crafted rules, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said today.